A textile mill completes their production in four process, spinning, dyeing, weaving and finishing. Direct materials...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A textile mill completes their production in four process, spinning, dyeing, weaving and finishing. Direct materials are added last, then conversion costs are added incrementally throughout. The information below relates to the dyeing process for October 2022. Beginning work in process 25,000 units - Degree of completion; Transferred in costs 100%, Direct material 0% and Conversion costs 80%. During October 2022, 1,00,000 were transferred in and 105,000 units were completed and transferred out. Ending work in progress xxxx units Degree of completion; Transferred in costs 100%, Direct material 0% and Conversion costs 40%. Required: Determine equivalent units using a) weighted average method A textile mill completes their production in four process, spinning, dyeing, weaving and finishing. Direct materials are added last, then conversion costs are added incrementally throughout. The information below relates to the dyeing process for October 2022. Beginning work in process 25,000 units - Degree of completion; Transferred in costs 100%, Direct material 0% and Conversion costs 80%. During October 2022, 1,00,000 were transferred in and 105,000 units were completed and transferred out. Ending work in progress xxxx units Degree of completion; Transferred in costs 100%, Direct material 0% and Conversion costs 40%. Required: Determine equivalent units using a) weighted average method
Expert Answer:
Answer rating: 100% (QA)
Step 13 Calculation of Number of Units in Ending WIP Inventory is as follows Ending WIP Inventory Beginning WIP Inventory Units Transferred In Units T... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The information below relates to the construction of a new recreation building in the City of Lander. Lander's fiscal year ends on June 30. Fiscal 2013 transactions 1. A bond issue in the amount of $...
-
The information below relates to Ilall Company: Net income ...........................$ 280,000 Dividends .................................105,000 Total stockholders' equity ...3,900,000 Market value...
-
The information below relates to Milton Company's trading debt securities in 2017 and 2018. Prepare the journal entries for the following transactions. a). January 1, 2017 Purchased $400,000 par...
-
Use the data given in Table to construct a frequency distribution with a first class (in millions) of 50-99. Novel Copies Sold (millions) Don Quixote . . . . . . . . . . . . . . . . . . . . . . . . ....
-
The Minevik Group is a Swedish-based, high-technology engineering firm. It follows IFRS and reports its results in millions of Swedish kronor (SEK). For the years ended December 31, 2013 and 2012,...
-
What test can be used to compare the variance of ln (ERG amplitude) between patients with dominant vs. recessive RP? Ophthalmology A study compared mean electroretinogram (ERG) amplitude of patients...
-
The total numbers of flights by different airlines between San Francisco and Atlanta in the past month. State whether the data described are discrete or continuous and explain why?
-
The following information is available for Deutsch Corporation for 2010: Instructions 1. Prepare the 2010 statement of cost of goods manufactured. 2. Prepare the 2010 incomestatement. December 31...
-
Let f(x)=7x+4 and g(x)=4x-5. Find (f + g)(x), (f g)(x), (fg)(x), and (x). Give the domain of each. (f+g)(x)=(Simplify your answer.) (f-g)(x)= (Simplify your answer.) (fg)(x)=(Simplify your answer.)...
-
A load of lumber er weighing W = 25 kN is being raised as shown by a mobile crane. Knowing that the tension is 25kN in all portions of cable AEF and that the weight of boom ABC is 3kN, determine (a)...
-
An interest bearing promissory note for 90 days at 5.6% p.a. has a face value of $120,000. If the note is discounted 20 days after the issue date at a rate of 6.8% p.a., calculate the amount of...
-
What part of the audit report is designed to be the most useful on future projects?
-
In this circuit, C=1 F, C2=2 F, =3 F, and C4=4 F. The voltage source is an ideal 12 V battery. Find the charge on each capacitor when: a) Only Si is closed (obligatory) b) S1 and S2 are both closed...
-
Which method of inventory valuation is based on the total number of units available for sale during the period?
-
Located at the top of the Navigation bar, what does the + New button do?
-
whta the benifit in learning oportinity cost in daily life?
-
Assume the forecasted free cash flows over the next five years from year 1 to year 5 for the firm Interco are (cash flows are in millions of $): year 1 = 186, year 2= 202, year 3 = 220, year 4 = 239,...
-
How do network effects help Facebook fend off smaller social-networking rivals? Could an online retailer doing half as much business compete on an equal footing with Amazon in terms of costs? Explain.
-
Prepare a statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Harding Industries, Inc. Additional information...
-
Squire Manufacturing manufactures a single product that it will sell for $77 per unit. The company is looking to project its operating income for its first two years of operations. Cost information...
-
Last month, Talley Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. Complete the following table. Direct materials information...
-
True or False: Engineers seldom have an opportunity to influence the recovery period for expenditures.
-
A lumber company purchases and installs a wood chipper for \(\$ 200,000\). The chipper is classified as MACRS 7-year property. Its useful life is 10 years. The estimated salvage value at the end of...
-
True or False: Straight-line depreciation is the most popular depreciation method used in financial reporting.
Study smarter with the SolutionInn App